Israeli Diamond Industry Signs MOU with Indian Diamond Industry

December 2, 2009byJCK Magazine

The Israel Diamond Institute Group of Companies announced last Tuesday that a memorandum of understanding has been signed with the Gem and Jewellery Export Promotion Council of India for the establishment of areas of cooperation between the two parties.

The MOU was signed at a ceremony in Mumbai today by IDI managing director Eli Avidar, and GJEPC executive director Sabyasachi Ray.

The MOU calls for:

An examination of joint interests to safeguard the industry

Establishment of joint lobbying activities for the reduction of import taxes on loose diamond in pertinent markets

Collective efforts to promote the sales of diamond jewelry in the local Indian and Israeli markets

Creating a joint taskforce to examine the issue of international bankruptcy and the ways in which it affects the parties.